The daex wallet and its Benefits

The DAEX wallet is the client system of the clearing chain. It is an unmanaged and distributed wallet that supports multiple types of cryptocurrencies. It has the following characteristics: • Multiple-part private key: Uses three parts private key. Needs any two parts to be used together to access assets in the wallet; • Private key can be restored: A private key can be restored if a user loses his part of the private key; • Complete autonomy: User has full autonomy over digital assets in his own wallet. After a user goes through a KYC process and become registered on the clearing chain, a unique public address on the clearing chain will be assigned to him. His trading digital assets will be managed in this address. He uses digital assets in this address to trade in all participating exchanges. At the time this DAEX wallet is produced, a three-part private key also generated. These three parts are kept at different places to provide a safe and recoverable mechanism for private key management. • User part: Stored on user’s mobile client. It is not stored in a readable format, and cannot be copied or exported. It is usually kept in a cold wallet state. It only finishes level one signature when user moves assets in the wallet. • Wallet part： It is stored in hot wallet mode on DAEX servers in the internal network separated by DMZ zone. It supports level two signature on top of user’s level one signature. • Backup part：Stored on the clearing chain in the cold state. It does not participate in any transaction. It is only used for recovery purpose. https://www.daex.io